Iowa Administrative Code
Agency 781 - Treasurer of State
Chapter 16 - Iowa Educational Savings Plan Trust
Rule 781-16.5 - Participant Eligibility
Current through Register Vol. 47, No. 6, September 18, 2024
Participants must meet the following requirements:
(1) The participant must be an individual, individual's legal representative, trust, estate, or an organization described in Section 501(c)(3) of the Internal Revenue Code and exempt from taxation under Section 501(a) of the Internal Revenue Code.
(2) An individual participant must be at least 18 years old and a United States citizen or resident alien with a valid social security number or tax identification number.
(3) A participant shall execute a participation agreement that specifies the plan selected by the participant and the terms and conditions under which the participant shall participate in the trust.
(4) A participant shall, on signing a participation agreement, provide the plan with the participant's social security number or tax identification number and the other information required on the participant agreement.
(5) Participants which are trusts must submit evidence that the individual trustee is so authorized and agrees to the terms and conditions of the participation agreement and must provide the information requested by the program administrator. Participants which are described in Section 501(c)(3) of the Internal Revenue Code must provide their tax identification number and any other information requested by the program administrator.
